Apollo Increases Rare Medium Investment

Six weeks after receiving $75 million from Apollo Investment Fund IV LP, Internet incubator Rare Medium Group Inc. received an additional $12 million investment from the buyout firm.

As part of the April financing, Apollo has the option to invest up to $150 million in the company.

Rare Medium, which was founded in 1996, currently provides Internet support services to corporations such as Microsoft, Intel and The New York Times.